Homeownership may be closer than you think.
Whether you're buying your first home or returning to the market, down payment assistance programs may help reduce the amount of cash needed to purchase a home. We'll help you understand your options and determine which programs you may qualify for.
Understanding the Options
Not all assistance works the same way.
Down payment assistance generally falls into two categories. Knowing the difference is the first step in choosing the path that fits your situation.
Option I
Grants
Grant programs generally do not require repayment as long as all program requirements are met. Because the assistance doesn't have to be paid back, these programs are often more competitive and tend to come with stricter qualifying guidelines.
- Higher minimum credit score requirements
- Income limits
- Purchase price limits
- Additional qualifying guidelines
Many grant programs require stronger credit profiles than repayable assistance programs, although requirements vary by program.
Option II
Repayable Down Payment Assistance
Some programs provide the assistance as a small second mortgage that's paid back over time. This path is often more accessible than a grant and can help buyers move into a home sooner by reducing the amount of cash needed upfront.
- Interest rate is typically about 2% higher than your first mortgage rate (varies by program)
- Repayment terms commonly range from 3 to 15 years, depending on the program
- May help you buy sooner by lowering the cash required at closing
The best option depends on your goals, your budget, and how long you plan to stay in the home.
Minimum Credit Score
A 640 credit score opens many of the doors.
Many of the down payment assistance programs we offer require a minimum qualifying credit score of 640. Some grant programs may require higher minimum credit scores. Program eligibility also depends on income limits, property requirements, loan type, available funding, and investor guidelines. We'll review your situation to determine which options may be available. Credit score alone does not determine eligibility, and requirements vary by program — not every Pennsylvania assistance program uses the same guidelines.
Programs
Programs we can help you explore.
Specific programs and available funding change over time. These are the categories of assistance we most often pair with our loans — we'll walk through what's available when you're ready to look.
FHA Down Payment Assistance
Pairs assistance with FHA's flexible credit and down payment guidelines — often a strong fit for first-time buyers.
Conventional Down Payment Assistance
Combine assistance with a Conventional loan to keep options open on property type and long-term flexibility.
State and Local Assistance
Programs offered through state housing agencies and local partners — eligibility and funding can vary by area and over time.
Grant Programs
Assistance that generally does not need to be repaid when program requirements are met. Often more competitive to qualify for.
Repayable Assistance Programs
Assistance structured as a small second mortgage, repaid over a set term — typically easier to qualify for than a grant.
A Quick Check
Is down payment assistance right for you?
If most of these describe you, there's a good chance one of the available programs could be a fit.
- ✓Purchasing a primary residence
- ✓Credit score of 640 or higher for many available programs
- ✓Limited funds available for upfront costs
- ✓Meet applicable income and program requirements
- ✓Interested in learning whether a grant or repayable assistance program is the better fit
Common Questions
What buyers ask us most.
What's the difference between a grant and repayable assistance?
A grant generally doesn't have to be paid back as long as you meet the program's requirements. Repayable assistance is structured as a small second mortgage that you pay back over time. Grants are often more competitive to qualify for; repayable programs are usually easier to qualify for and can help you buy sooner.
Do I have to repay a grant?
In most cases, no — as long as you meet the program's requirements (for example, staying in the home as your primary residence for a set period). Specific rules vary by program, and we'll walk through them before you commit to anything.
How long do repayable assistance programs last?
Repayment terms commonly range from about 3 to 15 years, depending on the program. The monthly payment on the second mortgage is in addition to your first mortgage payment.
Can I refinance later?
Often, yes. Refinance rules depend on the specific assistance program — some require the assistance to be paid off at refinance, others can stay in place. We'll factor this into the recommendation up front.
Can assistance be combined with FHA or Conventional financing?
Yes. Down payment assistance is typically layered on top of a first mortgage like an FHA or Conventional loan. We'll match the assistance program with the loan type that fits your situation.
How do I know which program is right for me?
It depends on your credit, income, the home you're buying, and how long you plan to stay. That's exactly the conversation we have on a consultation — we compare your real options side by side before you make a decision.
Ready to begin?
Let's explore your options together.
Every homebuyer's financial situation is different. We'll review your goals, explain the available programs, compare grant and repayable assistance options, and help determine which solution best fits your needs.